Section 8 Fair Market Rent (FMR) for ZIP 63770 - 2027

Location: Perry County, MO | Metro: Cape Girardeau, MO-IL MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$730
1 Bedroom	$830
2 Bedrooms	$980
3 Bedrooms	$1,340
4 Bedrooms	$1,550
5 Bedrooms	$1,798
6 Bedrooms	$2,014
7 Bedrooms	$2,175
8 Bedrooms	$2,284

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

203

Median Household Income

$N/A

Housing Units

Renter Percentage

19.7%

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 63770, located in St. Charles County, Missouri, is a suburban area that offers a mix of residential communities and access to urban amenities. It is known for its family-friendly environment, good schools, and proximity to St. Louis.

Fair Market Rent (FMR): The Fair Market Rent for ZIP 63770 is set at $960 for a two-bedroom apartment in fiscal year 2024, indicating a stable rental market.
Renter Share: 19.7% of the population are renters, which is lower than the national average but still provides a significant pool of potential tenants.
Median Home Value: While the median home value is not available, it's important to note that this figure typically influences the local real estate market and can affect property values and investment strategies.
Days on Market (DOM): The average days on market for rental listings is not available, but this metric would help investors understand how quickly properties are leased in the area.
Median Income: The median income for the area is not specified, but knowing this would be crucial for understanding the financial capacity of potential tenants.
Market Rent: Specific data on market rents is not available, but the FMR can serve as a benchmark for setting competitive rental rates.

Investors looking to enter the ZIP 63770 market should focus on the stable rental rates indicated by the FMR. With a lower-than-average renter share, there is potential for growth if the demand for rentals increases. Understanding the local economy and the median income will be key in identifying the most suitable tenant base. Additionally, monitoring the DOM for rental listings can provide insights into the leasing speed and competition within the market. Overall, the area presents a solid opportunity for those willing to research and adapt their investment strategies to the local conditions.

Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.